Looks like the economics haven’t changed in local: The problem with local search and discovery

I’m still waiting for a company to prove me wrong but I’ve held this view for a decade now:

There are three problems with local search and discovery and they cause a self-fulfilling prophecy of failure: people’s behavior just doesn’t match the offerings, the scale of the incumbents renders every company a technology acquisition yes, even Foursquare, and the underlying data challenges make integration post acquisition extremely challenging, suppressing acquisition prices.Why is local search and discovery a flawed concept? Simple: query volume.